Unit 25a , Cascades Shopping Centre, Commercial Road, Portsmouth, Hampshire, PO1 4RJ

Description

The subject property comprises a self-contained ground floor retail unit, with ancillary storage and WC's and kitchen to the rear.

Location

The Cascades Shopping Centre is the predominant and well managed shopping centre in the City Centre, anchored by Primark, H&M, Next and Sports Direct. On average the centre receives 130,000 visitors per week and is serviced by in excess of 1,000 adjacent car parking spaces.

Planning

A new Use Classes Order (UCO) came into effect on 1st September 2020. Under the new UCO a new Use Class E was introduced to cover commercial, business and service uses. Use Class E encompasses A1, A2, A3, B1 and some D1 and D2 uses under the former UCO. We therefore understand that the premises benefit from Class E 'Commercial Business and Service' use within the Use Classes Order 2020.

VAT

We understand the property is registered for VAT.

Accommodation

The accommodation has the following approximate floor areas:

Business Rates / Council Tax Band

Rateable Value: £28,750.

Following the Government's latest budget, all occupied retail, hospitality & leisure properties receive a 40% discount from 1st April 2025 until 31st March 2026. Subject to annual cash cap of £110,000 per business and qualifying use.

EPC

We understand the property has an EPC rating of C.

Legal Fees

Each party to bear their own legal costs incurred.